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Govt may strike off 2.25 lakh companies for not filing financial statement

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Govt may strike off 2.25 lakh companies for not filing financial statement

The government has identified over 2.25 lakh companies and 7,191 Limited Liability Partnerships (LLPs) which have not filed requisite financial statement for 2015-16 and 2016-17, and they may be struck off during the current financial year, said Ministry of Finance in a statement.

The Ministry of Corporate Affairs (MCA) has already struck off over 2.26 lakh companies for non- filing of financial statements or annual returns for a continuous period of 2 years or more, said the statement.

Also, over 3.09 lakh directors were disqualified for not filing financial statements or annual returns for preceding 3 years (2013-14, 2014-15 and 2015-16).

“For the second drive to be launched during 2018-19), 2,25,910 companies have been further identified for being struck off under section 248 of the Companies Act, 2013…for non-filing of financial statements for 2015-16 and 2016-17,” the statement said.

Also, 7,191 LLPs have been identified for action under section 75 of the LLP Act, 2008 due to non-filing of financial statements for the stated years, it said. These companies and LLPs will be given an opportunity of being heard by way of notices regarding their default and the proposed action. Appropriate action will be taken after considering their response, the statement said.

A task force headed by Finance Secretary Hasmukh Adhia and MCA Secretary Injeti Srinivas was set up in February 2017 to check the menace of shell companies through a coordinated, multi-agency approach. The task force has compiled a database of shell companies and classified them into 3 categories– Confirmed list, Derived list and Suspect list. The Confirmed List has a total of 16,537 confirmed shell companies on the basis of the information received from the various law enforcement agencies of the companies found to be involved in illegal activities.

The ‘derived list’ has 16,739 companies identified on the basis of 100 per cent common directorships with the confirmed shell companies. The ‘suspect list’ has 80,670 suspected shell companies and has been drawn up by SFIO using certain red flag Indicators.

The Task Force has identified certain red flag Indicators, which will be used to identify more shell companies, the statement said.

The Task Force has directed all member law enforcement agencies to send the details of action taken against chartered accountants by them to ICAI, it said. The ex- directors / authorised signatories of the struck-off companies have been restricted from operating the bank accounts of these companies and they cannot withdraw any amount from these bank accounts, other than for specified purposes, till the company is restored u/s 252 of the Companies Act, it said.

The Ministry of Corporate affairs will also be launching a public awareness campaign soon to make the public aware of the need to get the registrations of their defunct companies cancelled themselves, it said.

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Vijay meets Tamil Nadu Governor again as TVK pushes to prove majority

TVK chief Vijay held another meeting with Tamil Nadu Governor Rajendra Vishwanath Arlekar as the party intensified efforts to secure majority support after emerging as the single-largest party in the Assembly elections.

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Actor vijay

Actor-turned-politician Vijay met Tamil Nadu Governor Rajendra Vishwanath Arlekar again on Thursday as his party, Tamilaga Vettri Kazhagam (TVK), continued efforts to prove it has enough support to form the next government in the state.

TVK emerged as the single-largest party in the 234-member Tamil Nadu Assembly after winning 108 seats, but it remains short of the majority mark of 118.

The Congress has extended support to TVK, adding five MLAs to Vijay’s side. However, the alliance still needs additional backing from other parties or independents to comfortably cross the halfway mark.

According to reports, the Governor has not yet been fully convinced that TVK currently has the required numbers to form a stable government. This has delayed clarity over the swearing-in ceremony and the formal invitation to form the government.

Political activity intensified after reports emerged that some AIADMK legislators were moved to a resort in Puducherry amid speculation over possible support to TVK. AIADMK leaders, however, publicly denied any internal crisis.

TVK sources have expressed confidence that the party will be able to demonstrate majority support during discussions with the Governor.

The Tamil Nadu election results marked a major political shift in the state, with TVK breaking the long-standing dominance of the DMK and AIADMK in its first Assembly election contest.

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PM Modi changes social media profile pictures to mark Operation Sindoor anniversary

PM Modi changed his social media profile pictures to commemorate one year of Operation Sindoor, with several NDA leaders following the move.

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PM Modi speech

Prime Minister Narendra Modi on Thursday updated the display pictures of his social media accounts to mark the first anniversary of Operation Sindoor. The new image was seen across his profiles on X, Facebook, Instagram and WhatsApp channels.

The updated profile picture carries the text “Operation Sindoor” on a black background along with elements of the Indian tricolour. One of the letters in the word “Sindoor” has been stylised using vermilion, commonly associated with married Hindu women.

Operation Sindoor was launched a year ago by Indian defence forces and the Border Security Force along the western border. The anniversary was also marked by several Union ministers and NDA leaders, who changed their social media profile pictures in a similar manner.

External Affairs Minister S. Jaishankar and other senior leaders were among those who adopted the commemorative display image on social media platforms, according to reports.

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Congress, BJP attack Bhagwant Mann over remarks on Punjab blasts

Congress and BJP have jointly criticised Punjab CM Bhagwant Mann after he linked recent blasts near defence sites to political motives, triggering a controversy.

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Bhagwant Mann

A political row has erupted in Punjab after Chief Minister Bhagwant Mann linked recent blast incidents to political motives, drawing sharp criticism from both the Congress and the Bharatiya Janata Party (BJP).

The controversy follows two low-intensity explosions reported within a short span of time — one near the Border Security Force (BSF) headquarters in Jalandhar and another close to an army cantonment area in Amritsar. The incidents raised concerns over security, particularly given the sensitive nature of the locations.

In response, Mann suggested that the blasts could be part of a larger political strategy. His remarks triggered a strong backlash, with opposition parties accusing him of politicising a serious security issue.

Leaders from the Congress criticised the Chief Minister’s statement, calling it inappropriate and alleging that such comments undermine the gravity of the situation. They stressed that matters related to national security should be handled with caution and responsibility.

The BJP also joined the criticism, questioning the basis of Mann’s claims and urging the state government to focus on investigation and law enforcement instead of making political allegations.

The developments have led to an unusual moment where both Congress and BJP appear aligned in their criticism of the Aam Aadmi Party-led government in the state.

Meanwhile, the blasts themselves have intensified concerns over safety in border regions, with authorities continuing their investigation into the incidents. No casualties were reported, but the proximity to defence establishments has made the issue particularly sensitive.

The episode has further escalated political tensions in the state, with security and accountability emerging as key points of debate.

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